Monday, May 21, 2018 7:33:57 AM
Here's why I bought into RGO recently...and will continue to do so:
RGO co. quotes from the last update (direct from their website) 1/ 2018 Production Forecast: The production forecast for 2018 is 665,400 barrels of which 1,800 barrels per day is the forecasted average for the first half of 2018. 2/Breakeven field economics are estimated at 2,152 barrels per day, at an assumed Brent price of $50.00/barrel reducing to 1,761 barrels per day at an assumed Brent price of $60/barrel. (we're at $80 - do the math) 3/ (& "possibly" my favorite) The Company also announced that it does not plan to proceed with the cash call it received for the month of November and December to fund the current drilling program, and it does not plan to do so in the foreseeable future. Future capital calls will be dependent upon the Companys ability to raise additional capital and successful operations in the field. (Hopefully via increased oil prices /profits)
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